Sinclair, Inc. (NASDAQ:SBGI) Receives Average Rating of "Hold" from Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have earned an average recommendation of "Hold" from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.10.

SBGI has been the topic of a number of recent research reports. Rosenblatt Securities raised their target price on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com raised shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, September 28th. Wells Fargo & Company raised Sinclair from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $13.00 to $19.00 in a report on Thursday, November 7th. Benchmark lifted their price target on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Guggenheim lifted their target price on Sinclair from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th.

Sinclair Stock Down 1.4 %

Shares of SBGI traded down $0.24 during trading hours on Wednesday, reaching $16.55. The stock had a trading volume of 267,670 shares, compared to its average volume of 234,694. The firm has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $15.34. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.02, a P/E/G ratio of 0.15 and a beta of 1.57.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm had revenue of $917.00 million during the quarter, compared to analysts' expectations of $923.02 million. During the same period last year, the company earned ($0.30) earnings per share. The business's revenue was up 19.6% on a year-over-year basis. Equities research analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.04%. Sinclair's payout ratio is -30.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Segall Bryant & Hamill LLC bought a new position in shares of Sinclair in the third quarter worth $1,605,000. Verition Fund Management LLC bought a new position in Sinclair in the 3rd quarter worth about $822,000. Barclays PLC raised its holdings in shares of Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company's stock valued at $831,000 after acquiring an additional 42,887 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in shares of Sinclair during the 2nd quarter valued at about $2,873,000. Finally, Alden Global Capital LLC grew its holdings in shares of Sinclair by 10.5% during the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company's stock worth $16,341,000 after purchasing an additional 116,074 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Company Profile

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.